Insurance Issues: Program Reports and Risk Management

Insurance Issues

Insurance Issues is published by the Lawyers Insurance Fund of the Law Society of BC and distributed to all lawyers and articled students in the province.

 

Program Report

Each year, the Lawyers Insurance Fund reports on the insurance program and policy. The program report includes any policy wording changes as well as statistics on claims and potential claims. 

The 2018 Lawyers Insurance Fund program

• reports on the 2018 insurance program and policy revisions
• reviews statistics on claims and potential claims
• details three ‘social engineering’ scams that hit BC law firms in 2017
• highlights LIF resources that explain what’s covered under the compulsory policy, and what’s not
• reports on feedback on the Part B, Trust Protection Coverage experience from victims of lawyer theft

The 2017 Lawyers Insurance Fund program

• reports on the 2017 insurance program and policy revisions
• reviews statistics on claims and potential claims, and gives "one victim's story" in relation to trust protection coverage
• introduces an expansion to trust shortage liability under Part C of the policy
• highlights resources to help protect you from trust shortage risks
• reports on the results of the 2016 claims audit

The 2016 Lawyers Insurance Fund program

• reports on the 2016 insurance program and policy revisions
• reviews statistics on claims and potential claims
• highlights excess and other commercial insurance products available to protect you from risks that our policy does not cover
• reports on 15 years of feedback from insureds on the services we provide

The 2015 Lawyers Insurance Fund program

• reports on the 2015 insurance program and policy revisions
• reviews statistics on claims and potential claims
• highlights a free risk management presentation
• reports on LIF’s role in the Law Society
• reports on an upcoming resource – “My Insurance Program: Questions and Answers”

The 2014 Lawyers Insurance Fund program

• reports on the 2014 insurance program and policy revisions
• reviews statistics on claims and potential claims
• highlights new aids to help prevent claims
• reports on a new resource – “My Claim: Questions and answers”

The 2013 Lawyers Insurance Fund program

• reports on the 2013 insurance program and policy revisions
• clarifies the application of Exclusion 6 – the “business and benefit” exclusion – to trusts
• reviews statistics on claims and potential claims
• reports on an upcoming resource – “My Insurance Policy: Questions and answers”

The 2012 Lawyers Insurance Fund program

• reports on the 2012 insurance program and policy revisions
• introduces new trust shortage liability (for reliance on fraudulent certified cheques) under Part C of the policy
• reviews statistics on claims and potential claims
• reports on the results of the 2011 claims audit

The 2011 Lawyers Insurance Fund program

• reports on the 2011 insurance program and policy revisions
• reviews statistics on claims and potential claims
• explains the policy’s free discovery period coverage for lawyers leaving practice
• reports on 10 years of feedback from insureds on the services we provide

The 2010 Lawyers Insurance Fund program

• reports on the insurance consequences of MDPs and Quebec mobility
• summarizes resources available from the Lawyers Insurance Fund

The 2009 Lawyers Insurance Fund program

• revisits the benefits of excess insurance
• reports on the results of LIF service evaluations

The 2008 Lawyers Insurance Fund program

• highlights proactive claims management and creative resolutions
• reviews new risk management initiatives

The 2007 Lawyers Insurance Fund

• highlights website resources
• announces a seminal risk management publication on missed deadlines

The 2006 Lawyers Insurance Fund program

• highlights risk management resources
• reviews "advance rulings," including coverage information for lawyers acting as executors or trustees

The 2005 Lawyers Insurance Fund program 

• introduces new risk management resources
• reviews insurance coverage advice available on the website, including information about insurance coverage for lawyers no longer in private practice

May 1, 2004 Lawyers Insurance Fund program

• provides details of new trust protection coverage 

The 2004 Lawyers Insurance Fund program

• notes changes to the excess insurance program and the availability of optional business innocent insured coverage
• lists available services and resources from the Lawyers Insurance Fund
• summarizes the insurance aspects of the new national mobility agreement of the Federation of Law Societies

The 2003 Lawyers Insurance Fund program 

• details new website information available from the Lawyers Insurance Fund - such as new initiatives on coverage and optional coverage available to BC lawyers
• comments on the insurance aspects of the new national mobility agreement of the Federation of Law Societies

The 2002 Lawyers Insurance Fund program

• provides details of extended insurance coverage for approved pro bono services
• provides details of optional business "innocent insured" coverage (BIIC)

The 2001 Lawyers Insurance Fund program

• discusses the insurance implications of the Western Law Societies Conveyancing Protocol

The 2000 Lawyers Insurance Fund program 

 

Risk Management

The Lawyers Insurance Fund regularly publishes risk management articles to help lawyers avoid mistakes and claims. (Please note: articles are now available as webpages.)

The Naked Lawyer Part 2: Big Data Reveals Where You are at Risk – Summer 2018
Baby boomer blues: The practice risks of aging – Winter 2017
Cover Pages: A guide to insurance for private practitioners – Summer 2017
Lawyers as executors: Traps and tips – Summer 2016
Smooth Sailing to Settlement: Avoiding Common Mistakes – Summer 2015
The buck stops here! – Fall 2014
Witnessing a signature? Stop. Read this first. – Winter 2013
Ten tips to beat the reset clock – Summer 2013
Undue influence: onus of proof, best practices – Winter 2012
GST traps for the unwary – Summer 2012
What you need to know about changes to adult guardianship legislation – Fall 2011
Income tax: it’s a risky business – Winter 2010
Managing the risk of a limited retainer – Summer 2010
Email: Preventing a mailstrom – Fall 2009
Hard Times: Managing risk in a troubled economy – Winter 2008
Mobility: Managing the risk – Summer 2008
Beat the clock: Guide already helping lawyers to prevent missed deadlines – Summer 2007
Curbing risk in real estate practice – Spring 2006
Real estate fraud — a prevention primer – Fall 2005
About to act for family and friends? – Summer 2005